Page 4 - Supply Chain

India surprises by agreeing to talk 'labour' at IPEF

The IPEF is a response of the US to its shrinking economic engagement and clout in East Asia, where the economic influence of China is growing

TMS Ep567: Economic impact of World Cup, IPEF pact, markets, fentanyl deal

How much money did ICC Cricket World Cup 2023 rake in? How will India benefit from the IPEF supply chain pact? Will markets extend the rally this week? What is the Biden-Xi fentanyl deal? Answers here

Global south nations need to discuss ways to make supply chains open: Goyal

Global south countries need to discuss ways to make supply chains open, secure, trusted and equitable, Commerce and Industry Minister Piyush Goyal said on Friday. Speaking at the second Voice of Global South Summit, he said the crisis of the COVID-19 pandemic, the impact of climate change and raging geopolitical tensions have disrupted and underscored the fragility of global supply chains. These disruptions have created monumental challenges of food and energy security, cost of living and achievement of the sustainable development goals, Goyal added. "We would like to discuss ways and means for countries of the global south to cooperate and act together to make our supply chains open, secure, trusted, stable, and equitable, thereby making them more resilient," he said. During India's G-20 presidency, the G20 generic framework for mapping global value chains (GVCs) was adopted to make these chains resilient and inclusive, he noted. This framework has been prepared, keeping in mind

IPEF member countries conclude negotiations for two more pillars

Under the proposed Agreement, the IPEF partners also would establish a new CBF to enhance each other's capabilities to effectively implement all aspects of the proposed Agreement

India, US, 12 other IPEF members ink supply chain resilience agreement

India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would provide benefits like potential shifting of production centres in critical sectors and mitigating risks of economic disruptions from supply chain shocks. The agreement was signed in San Francisco, where Commerce and Industry Minister Piyush Goyal is attending the ministerial meeting of the Indo-Pacific Economic Framework For Prosperity (IPEF). The agreement would help member countries like India to reduce its dependence on China. The COVID outbreak had severely disrupted the global supply chain, as most countries were dependent on China for various products, like pharma raw materials. On the social networking platform X, on Wednesday, Goyal said: "India joins US and 12 other IPEF partners to ink the IPEF Supply Chain Resilience Agreement, a first-of-its-kind international agreement that will fortify and strengthen global supply chains; and foster adaptability, stabilit

FMCG supply chain gridlock: Demand declines and inventory adds up

The situation remains the same even in central India as inventory days have gone up to 20 days which was lower earlier

India needs to integrate into global value chains: NITI Aayog CEO

NITI Aayog CEO B V R Subrahmanyam on Tuesday emphasised on the need for India to integrate into global value chains and adapt swiftly to emerging trading systems, according to an official statement. While addressing a thematic workshop on 'Inclusive Trade for Growth & Prosperity' organised by NITI Aayog, Subrahmanyam also highlighted the need for a non-discriminatory and inclusive trading system which facilitates trade as an engine of growth and prosperity. Also speaking at the event, NITI Aayog member Arvind Virmani highlighted the need for strengthening key areas such as labour-intensive supply chains, institutional factors for policy framing and simplifying taxation system, and integrating payment, refund and export credit systems especially for MSMEs. Virmani also pointed out the need to address various anti-dumping issues and the need to foster free trade agreements with potential partners. NITI Aayog member Ramesh Chand stressed on the need of reducing non-tariff barriers; ..

Biden will host Americas summit that focuses on supply chains, investment

President Joe Biden is gathering leaders from countries across the Americas on Friday in the US capital to discuss the tightening of supply chains and addressing migration issues. In a preview of the first Americas Partnership for Economic Prosperity Leaders' Summit, White House National Security Council spokesman John Kirby told reporters Thursday that the two-day event would be a once in a generation opportunity to shift more of the global supply chains to the Western Hemisphere. Kirby said the summit would also involve the shared migration challenge and the building of meaningful economic opportunity among the countries in the region. Friday's event was announced last year at the Summit of the Americas in Los Angeles. The focus on trade comes as competition has intensified between the United States and China, the world's two largest economies. Biden has provided government incentives to build US infrastructure and for companies to construct new factories. But after the pandemic .

G-7 nations back strong supply chains for energy, food despite tensions

Trade and economy officials from the Group of Seven wealthy democracies strengthened their pledge on Sunday to work together to ensure smooth supply chains for essentials like energy and food despite global uncertainties. The nations promised to maintain a free and fair trading system based on the rule of law and enhancing economic resilience and economic security, officials said in a joint statement. Foreign Minister Yoko Kamikawa, who co-hosted the two-day event in the western city of Osaka, pointed to Russia's invasion of Ukraine and the Israel-Hamas war as the latest threats to stable energy and food supplies. We nations that share important values have a position of responsibility amid growing uncertainties, she said in closing the meeting, stressing democracy, inclusiveness and human rights. Worries are growing among developed nations about maintaining a stable supply of computer chips as well as essential minerals, like lithium, which are critical these days amid the demand

A supply-side dilemma

We need to stop obsessing over consumption, the real problem is supply

No decision yet on India joining trade pillar of IPEF, says official

The government has not yet taken any decision on the issue of India joining the trade pillar of the Indo-Pacific Economic Framework (IPEF), a 14-member grouping, a senior official said. The IPEF was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23 in Tokyo. The 14 IPEF partners represent 40 per cent of global GDP and 28 per cent of global goods and services trade. The framework is structured around four pillars relating to trade, supply chains, clean economy, and fair economy (issues like tax and anti-corruption). India has joined the three pillars except the trade part. The member countries are holding negotiations to sign separate agreements on these subjects. Talks are already concluded on the supply chain resilience and the process for domestic approval in India for this agreement is underway. The member nations are holding talks on clean economy, and fair economy pillars under the sixth negotiating round, which is undergoing in Kuala

Indian Bank partners with Tata Motors arms to offer supply-chain financing

Public sector Indian Bank on Friday said it has partnered with subsidiaries of Tata Motors Ltd to offer inventory financing solutions through its digital supply-chain finance platform. As part of the collaboration with Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd, the Indian Bank would offer -- inventory financing solutions -- to the authorised dealers for the electric and passenger vehicles division. Indian Bank Executive Director Ashutosh Choudhury said, "We are delighted to partner with Tata Motors, a leader in the automotive sector. Indian Bank with 5,819 branches and trusted by over 10 crore customers is well positioned to provide solutions to Tata Motors Ltd in its rapid growth journey." Indian Bank Supply-Chain finance would provide easy access to working capital finance to the dealers of Tata Motors Ltd at favorable terms for driving their business growth, he said. "We are extremely elated to associate with Indian Bank for this financing ...

Amazon's expansion into logistics services could unlock $100 bn in revenue

Analysts see the strategy echoing what the firm achieved with its cloud business, when it built Amazon Web Services to serve its own needs before opening the platform to third-party merchants

India can contribute towards strengthening, diversifying supply chains: FM

Finance Minister Nirmala Sitharaman on Wednesday said India is well placed to contribute towards strengthening and diversifying supply chains. Speaking at the launch of 'Partnership for Resilient and Inclusive Supply-chain Enhancement' on the sidelines of the World Bank-IMF Annual Meetings in Marrakech, Morocco, Sitharaman said India is undertaking some of the most robust climate actions through its Nationally Determined Contributions (NDCs). This includes an ambitious programme for a transition to clean energy and the RISE partnership is completely in sync with India's domestic policy of prioritising Clean Energy. Highlighting the hard-earned consensus by the G20 India Presidency on the need to rapidly scale up renewable energy capacity, the finance minister said the Global Biofuels Alliance initiative launched by Prime Minister Narendra Modi, on the sidelines of the G20 Leaders Summit in New Delhi, is a positive step towards promoting global cooperation on sustainable biofuels and

India, Saudi Arabia sign MoU on grid connection and green hydrogen

Singh urged the MENA countries to join the Global Biofuel Alliance to bolster international cooperation in sustainable biofuels and fully harness the potential of the Alliance

Taiwan looks forward to joining hands with India: Representative Ger

The Taiwanese representative said: "In addition to our Chennai office in 2012, I am pleased to announce that our 3rd mission, Taipei Economic and Cultural Center in Mumbai, will open early next year"

P&G India announces Rs 300 cr fund for startups for supply chain solutions

FMCG maker Procter & Gamble India on Thursday announced a Rs 300 crore fund to collaborate with external partners and innovators for co-creating solutions for a modern supply chain ecosystem. P&G Supply Chain Catalyst Fund will provide an opportunity to startups and innovators to collaborate with Procter & Gamble (P&G) India on customising business solutions, accelerating its journey towards Supply 3.0 initiatives, said a statement from the company. This is a part of Rs 1,800 crore committed in business solutions through vGROW, in which the maker of brands like Gillette, Whisper, Vicks is investing in small businesses, individuals and large organisations offering innovative solutions. "The announcement is in line with the Prime Minister's Gati Shakti initiative, which is an endeavour towards multi-modal connectivity in the country that will enhance seamless movement of goods and services through targeted interventions," the statement said. Commenting on the ...

Panama Canal drought and how it is impacting global trade, supply chain

The Panama Canal Authority has warned that water restrictions may continue into 2024, making it important for shipowners to create a contingency plan that does not further disrupt global supply chain

IIFL Fintech Fund buys 51% in supply chain platform Xtracap for Rs 25 cr

IIFL Group's early-stage investment vehicle IIFL Fintech Fund has invested a reported Rs 25 crore for a 51 per cent stake in a supply-chain finance platform, Xtracap Fintech. This is the fund's first investment in a supply chain finance firm, the company said in a statement without disclosing any financial details of the transaction. But sources told PTI that they have picked up 51 per cent for Rs 25 crore, valuing Xtracap at Rs 50 crore. Xtracap offers e-invoice financing that allows businesses to unlock value of their invoices in real-time, providing instant liquidity. Its dual app serves both downstream and upstream channel financing needs. By using invoices and receivables as collateral, financing facility is made available. IIFL Fintech Fund was launched in August 2021 with a corpus of Rs 210 crore and has since invested in Trendlyne, Leegality, Finbox, Datasutram, Multipl, Finarkein, Trustcheckr, Finvu, Insurance Samadhan and Easyrewardz.

Witnessing trend of rising outsourcing of supply chain activities: TVS SCS

TVS Supply Chain Solutions was witnessing a trend of increasing outsourcing of supply chain activities across industries and a strong pipeline of new opportunities, a top official said. The city-based firm had registered a consolidated net loss for the April-June 2023 quarter at Rs 65.3 crore as compared to a net loss at Rs 1.8 crore during the corresponding quarter of last year. Revenue from operations during the quarter under review stood at Rs 2,342.4 crore from Rs 2,675.5 crore registered in the same period of last year. The profitability showed a decline due to higher interest cost and a one-time exceptional expense of Rs 25.57 crore during the quarter, a company statement here said. The Integrated Supply Chain Solutions business performance was driven by a very strong growth momentum with the segment reporting a revenue of Rs 1,318.8 crore during the April-June 2023 quarter from Rs 1,097.7 crore registered in the same period of last year. The ISCS segment revenue grew in Ind